Questions for accounting 101. Hope you can explain it.

Solve part e.

WileyPLUS El ASSIGNMENT RESOURCES Cila tera Assi ulna"! Brief Exercise 8-2 Part Level Submission Brief Exercise 3 (Fall Level Submission] Brief Exercise 8-5 (Part yPLUS Myw eyPLUS | Helg | | Lug out INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) STANDARD vxsw FRINYER vsnsxon 4 BACK NEXT > Kimmel, Financial Accounting, Seventh Canadian E MESSAGE m msmucrox Brief Exercise 8-3 (Part Level Submission) Record the following transactions on the books elf Lawn Ltd., which uses a perpetual inventory system. V (a) Level Submission) v Your answer is correct. Brief Exercise 86 Part l evel Submission Brief Exercise 8-7 Part Level Submission Brief Exercise 812 [Part Level Submission Brief Exercise 8-1 4 (Part Level Submissianl El Brief Exercise 8-15 {Part Level Submission) Problem 8-11A Part Level Submission Exgand Your Critical Thinking 5-5 (Part Level Submissmn Review Sure Reulew Results by study Obiective Sold $25,300 of merchandise on April 23 to Velez Ltd., terms 2/10, n/30. The goods sold had cost Lawn 517,900. (cl-edit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit April 28 Accounts Receivable iK |K (To record sales) April 28 Cost of Goods sold |K |K Inventory (To record oost nfgnuds sold) snow usr or AccouNTs LINK TO TEXT V (b) a/ Your answer is cDrrect. On May 1, Lawn sold $33,800 of merchandise to Quilmes Ltd., terms 2/10, n/30, The goods sold had cost Lawn $25,000. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) WileyPLUS ASSIGNMENT RESOURCES Cila terB Assi nment Brief Exercise 8-2 Pan: Level Submission Brief Exercise 3 (Fall Level Submission) Brief Exercise 8-5 (Part Level Submission Brief Exercise 86 (Part l evel Submission Brief Exercise 3-7 (Part Level Submission) Brier Exercise 8712 [Part Level Submission Brief Exercise 8-14 (Part Level SubmiSSianl El Brief Exercise 3-15 {Part Level Submission) Problem 8-11A (Part Level Submission Exgand Your Critical Thinking 5-5 (Part Level SubmlSSlon Review Snare Reulew Results by Study Obiective yPLUS Myw eyPLUS | Heig | INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) Kimmel, Financial Accounting, Seventh Canadian E MESSAGE m msmucrox STANDARD vxew DRINYER vensxon V (b) v Your answer is correct. On May 1, Lawn Sold $33,800 of merchandise to Quilmes Ltd., terms 2/10, n/30. The goods sold had cost Lawn $25,000. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Debit Dale Amount Tides and Explanation Credit May 1 Accounts Receivable 33500 33800 iK |k (To record sales) Cost of Goods Sold May 1 |k |k '- 25000 ' Inventory (To record cost of goods sold) snow usr or ACCOUNTS unit 10 Text Attempts: 2 of 15 used v (c) ./ Vour answer is correct. On May 3, merchandise with a selling price of $1,200 was returned by Valez. The goods had a cost of $890 and they were restored to inventory. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Amount Tide: and Explanation Debit Credit I May 3 Sales Returns and Allowances _ v FLJVLJW 4 BACK NEXT > | Lug Out WileyPLUS El ASSIGNMENT RESOURCES Clla terB Assi lune"! Brief Exercise 8-2 Pan: Level Submission Brief Exerose 3 (Fall Level Submission) Brief Exercise 8-5 (Part Level Submission Brief Exercise 86 (Part l evel Submission Brief Exercise 3-7 (Part Level Submission) Brier Exercise 8'12 [Part Level Submission Brief Exercise 8-14 (Part Level SubmiSSianl El Brief Exercise 3-15 {Pan Level Submission) Problem 8-11A (Part Level Submission Exgand Your Critical Thinking 5-5 (Part Level SubmlSSlon Review Seore Reulew Results by Study Obiective yPLUS Myw eyPLUS | Lela I I M INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) 4 BACK NEXT > Kimmel, Financial Accounting, Seventh Canadian E MESSAGE m msmucrox STANDARD vxew DRINYER vensxon v (c) Your answer is correct. On May 3, merchandise with a selling price at $1,200 was returned by Valez. The goods had a cost of $890 and they were restored to inventory. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Mall 3 sales Returns and Allowances o (Tn record sales returns) ||K (Tn record oost or goods returned) sl-low usr or ACCOUNYS LINK YO TEXT Attempts: 1 of 15 used V (d) -/ Your answer is correct. On May 6, Velez paid its account. ( Credit account titles are automatically indented when the amount is entered. Do not indent manually. I! no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Amount Tides and Explanation Debit il IE I I a: MaY 5 241m! WileyPLUS til ASSIGNMENT RESOURCES Clla tera Assi ulna"! Brief Exercise 8-2 (Part yPLUS My yPLus | Helg | Kimmel, Financial Accounting, Seventh Canadian Edition INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) MESSAGE m msmucrox sunmum vxew DRINYER vensxon V (d) v Your answer is correct. Level Submission Brief E Level Su e mi Brief Exercise -5 Part Level Submission Brief Exercise 86 Part l evel Submission Brief Exercise 8-7 Part Level Submission Brief Exercise 8'12 [Part Level Submission Brief Exercise 8-1 4 (Part Level Submissianl El Brief Exercise 8-15 {Part Level Submission) Problem 8-11A Part Level Submission Exgand Your Critical Thinking 5-5 (Part Level Submissmn Rev'ew Ssore Rev w Results by study Obie ive On May 5, Valez paid its account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. I! no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Amount True: and Explanation Debit Credit m _ , ..-...R......... _ a... snow List or ACCOUNTS snow summon LINK TO text Attempts: 3 of 15 used v (e) / Your answer is partially correct. Try again. On June 1, Lawn added one month's interest to Quilmes's accdunt fer the overdue receivable. Lawn charges 18% per year an overdue accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Amount Tles and Explanation Credit ~/ June 1 Accounts Recs able s/ X ...... ...... _ ' uNK TO TEXT Debit | Lug out 4 BACK NEXT >